SlateStone Wealth LLC Takes Position in Webster Financial Co. (NYSE:WBS)

SlateStone Wealth LLC acquired a new position in shares of Webster Financial Co. (NYSE:WBS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,039 shares of the financial services provider’s stock, valued at approximately $205,000.

Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in Webster Financial during the 3rd quarter worth $32,000. Geneos Wealth Management Inc. acquired a new stake in Webster Financial during the 3rd quarter worth $36,000. Bruce G. Allen Investments LLC bought a new position in Webster Financial during the 4th quarter worth about $42,000. Covestor Ltd increased its holdings in Webster Financial by 17.0% during the 3rd quarter. Covestor Ltd now owns 3,529 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 513 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in Webster Financial by 49.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,576 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 1,176 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Trading Down 0.6 %

WBS stock traded down $0.26 during midday trading on Wednesday, hitting $44.62. The stock had a trading volume of 199,550 shares, compared to its average volume of 1,146,099. The firm has a market cap of $7.66 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 0.38 and a beta of 1.33. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. Webster Financial Co. has a 1-year low of $31.03 and a 1-year high of $53.39. The business has a fifty day moving average price of $47.97 and a two-hundred day moving average price of $46.50.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The company had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the prior year, the company posted $1.49 EPS. Webster Financial’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts predict that Webster Financial Co. will post 5.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Jefferies Financial Group lowered their target price on Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 8th. Morgan Stanley raised their price objective on Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Raymond James reiterated an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Finally, Citigroup reduced their price target on Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.85.

Insider Buying and Selling

In other Webster Financial news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Daniel Bley sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the transaction, the insider now directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Luis Massiani sold 13,500 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the transaction, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders have sold 29,941 shares of company stock worth $1,545,582 in the last quarter. Insiders own 0.72% of the company’s stock.

Webster Financial Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.